A movement from point N to point L would represent
A. an increase in both consumer goods and capital goods.
B. a decrease in both consumer goods and capital goods.
C. an increase in consumer goods, but a decrease in capital goods.
D. an increase in capital goods, but a decrease in consumer goods.
C. an increase in consumer goods, but a decrease in capital goods.
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When a negative externality exists, the marginal social cost curve
a. is the same as the market supply curve b. is the same as the market demand curve c. lies above the market demand curve d. lies below the market supply curve e. lies above the market supply curve.
Which of the following is an example of a good with a highly elastic supply curve?
a. luxury goods b. tropical vacations c. pizza d. sports vehicles
Personal consumption expenditures include
a. all goods that business firms buy b. the purchase prices paid for stocks and bonds by individual households c. the construction of residential housing d. all goods and services bought by households e. the corrected value of housewives' services
A market with two firms can be an oligopoly if: a. one of the firms eventually wins a patent on the product sold in the market. b. the government makes them sell their output at the equilibrium price
c. both the firms spend a significant amount of money on product development. d. one of the firms is taken over by the other.